Open AccessNote: Economic Systems and the Environment
Author(s) -
Shamyla Chaudhry
Publication year - 1998
Publication title -
the lahore journal of economics
Language(s) - English
Resource type - Journals
eISSN - 1811-5446
pISSN - 1811-5438
DOI - 10.35536/lje.1998.v3.i1.a8
Subject(s) - production (economics) , consumption (sociology) , natural (archaeology) , economics , natural resource economics , distribution (mathematics) , raw material , pollution , energy consumption , environmental economics , microeconomics , mathematics , geography , engineering , mathematical analysis , social science , ecology , chemistry , archaeology , organic chemistry , sociology , electrical engineering , biology
In any economic system, be it a free market or a command economy,the elementary functions of production, distribution and consumption takeplace within the natural world. The natural world provides the raw materialsand the energy inputs for the production process whereas production andconsumption leave “residuals” or waste products which go back into nature.The manner in which the residuals are handled will infact tell us how theymay lead to pollution or the degradation of the natural environment.